Orion Advisor Solutions Inc.'s Proposed Amend-And-Extend Term Loan Rated 'B' (Recovery Rating: '2') - S&P Global Ratings’ Credit Research

Orion Advisor Solutions Inc.'s Proposed Amend-And-Extend Term Loan Rated 'B' (Recovery Rating: '2')

Orion Advisor Solutions Inc.'s Proposed Amend-And-Extend Term Loan Rated 'B' (Recovery Rating: '2') - S&P Global Ratings’ Credit Research
Orion Advisor Solutions Inc.'s Proposed Amend-And-Extend Term Loan Rated 'B' (Recovery Rating: '2')
Published Oct 03, 2024
4 pages (1799 words) — Published Oct 03, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Oct 3, 2024--S&P Global Ratings today assigned its 'B' issue-level and '2' recovery ratings to Orion Advisor Solutions Inc.'s proposed amended and extended $935 million first-lien senior secured term loan due in September 2030. The proceeds from the proposed amended and extended term loan will be used to repay the existing term loan and fees associated with the transaction, making the transaction largely leverage neutral. We will withdraw the ratings on the existing term loan upon completion of the transaction. The company is also extending the maturity of its $80 million revolving credit facility by two years to June 2029. Both the term loan and revolver are subject to a springing maturity to 91 days

  
Brief Excerpt:

...October 3, 2024 NEW YORK (S&P Global Ratings) Oct 3, 2024--S&P Global Ratings today assigned its 'B' issue-level and '2' recovery ratings to Orion Advisor Solutions Inc.'s proposed amended and extended $935 million first-lien senior secured term loan due in September 2030. The proceeds from the proposed amended and extended term loan will be used to repay the existing term loan and fees associated with the transaction, making the transaction largely leverage neutral. We will withdraw the ratings on the existing term loan upon completion of the transaction. The company is also extending the maturity of its $80 million revolving credit facility by two years to June 2029. Both the term loan and revolver are subject to a springing maturity to 91 days inside the second lien term loan which matures in September 2028. Our 'B-' issuer credit rating and stable outlook on Orion is unchanged, although we view the maturity extensions as a credit positive. S&P Global Ratings-adjusted pro forma leverage...

  
Report Type:

Ratings Action

Issuer
Orion Advisor Solutions Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Orion Advisor Solutions Inc.'s Proposed Amend-And-Extend Term Loan Rated 'B' (Recovery Rating: '2')" Oct 03, 2024. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Orion-Advisor-Solutions-Inc-s-Proposed-Amend-And-Extend-Term-Loan-Rated-B-Recovery-Rating-2-3261551>
  
APA:
S&P Global Ratings’ Credit Research. (). Orion Advisor Solutions Inc.'s Proposed Amend-And-Extend Term Loan Rated 'B' (Recovery Rating: '2') Oct 03, 2024. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Orion-Advisor-Solutions-Inc-s-Proposed-Amend-And-Extend-Term-Loan-Rated-B-Recovery-Rating-2-3261551>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.